SRO 297(I)/2023
Federal Board of Revenue (FBR) on Wednesday issued a list of imported and locally produced goods for applying sales tax at 25 per cent.
The FBR issued SRO 297(I)/2023 dated March 08, 2023 for applying sales tax rate at 25 per cent on import and local supply of luxury goods. The government on February 15, 2023 presented a mini budget to generated additional revenue. Normal rate of sales tax has been increased to 18 per cent from 17 per cent through Finance (Supplementary) Act, 2023. Furthermore, another rate of sales tax at 25 per cent was introduced on imported and local supply of goods.
The FBR issued 36 imported items with long tariff line for the application of sales tax at 25 per cent. Furthermore, the revenue body also issued a list of locally manufactured or assembled SUVs and CUVs motor vehicles for the application of sales tax at 25 per cent. The FBR clarified that for removal of doubt the provisions of the notification/SRO shall not be applicable in respect of goods specified in the Eighth Schedule to the Sales Tax Act, 1990.
List of Items that Fall Under - SRO 297(I)/2023
Following is the list of imported and locally produced goods for application of sales tax rate at 25 per cent
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